Word: primed
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...liberalization of China's business may recede to some extent because the recession will cause the level of government support for the economy to grow to keep GDP from contracting. The nation's prime minister says GDP will grow 8% this year, which seems nearly impossible. But if the government does have to offer financial support to the banks and industry, it will certainly come with some strings attached and may even cause the central government to take larger shares in businesses that it had planed to privatize...
...These were expensive lessons, but make no mistake: Beijing has not decided staying home is better than "Going Out." State companies are still sitting on mountains of cash, and although China's economy is slowing, officials see the global recession as a prime opportunity to cheaply acquire holdings of strategically important natural resources such as iron ore, copper, oil and gas - commodities China's leadership knows it will need much more of in the long run. In the past month, Chinese companies have bought assets abroad at an unprecedented pace. Aluminum Corp. of China (Chinalco), a major holding company focused...
...China National Petroleum Corp. agreed to buy Calgary based Verenex Energy, which has a 50% stake in a huge Libyan oilfield, for $390 million. The China Development Bank and China Petroleum & Oil Corp. last month invested $10 billion in Petrobras, Brazil's state-owned oil company and the prime operator in one of the most promising new offshore fields in the world. The deal gives Petrobras capital to further develop the fields. In return, China will get 100,000 to 160,000 barrels of oil a day over 20 years...
Iran and the U.S. Re "Talking and Listening to Iran" [Feb. 23]: Those Iranians who favor better relations with the U.S. should remember that the U.S. supported the overthrow of the democratically elected Prime Minister in 1953. The U.S. supported Saddam Hussein against Iran during the war, and they shot down an Iranian passenger plane in the Persian Gulf in 1988 killing 300 men, women and children. Iranians should never forget and forgive America. Parviz Zarrabi, MANCHESTER, ENGLAND...
...game among Israeli aides yesterday was checking their wristwatches to see how much time U.S. Secretary of State Hillary Clinton gave to Tzipi Livni and Benjamin Netanyahu - the political rivals who are both staking a claim to become the country's next Prime Minister. In her first swing through the Middle East since taking over as Secretary of State, Clinton was careful not to show favoritism toward either Israeli contender. Each got 60 minutes...